Tag: power plant

  • Punjab increases govt employees’ pay by 30%, pensioners above 80 to receive 20% raise

    Punjab increases govt employees’ pay by 30%, pensioners above 80 to receive 20% raise

    In a significant development, the interim Punjab cabinet, headed by caretaker Chief Minister Mohsin Naqvi, has approved the provincial budget for the initial four months of the fiscal year 2023-24. The cabinet meeting, held on Monday, saw the endorsement of several key measures aimed at providing relief to the people and promoting various sectors of the economy.

    One of the major highlights of the budget is a 30 per cent increase in salaries for government employees, which will be implemented as an ad hoc relief. This decision is expected to bring significant relief to public servants who have been facing the brunt of rising costs of living. Additionally, pensioners above the age of 80 will receive a 20 per cent increase in their pensions, acknowledging their valuable contributions to society.

    The Punjab cabinet has also taken a bold step to stimulate business growth in the information technology and education sectors. By withdrawing all duties and taxes, the provincial government aims to create a favorable environment for these industries, fostering innovation and progress. An allocation of Rs70 billion has been set aside to provide relief to the people over the course of the first four months of the fiscal year.

    Addressing concerns related to the construction sector, the cabinet rejected a recommendation to increase stamp duty by up to 3 per cent. Instead, it approved fixing the stamp duty ratio at 1 per cent, thereby promoting the growth of the construction industry and encouraging investment in the sector.

    Recognizing the importance of agriculture, the cabinet allocated over Rs47 billion to support and enhance the sector. This move demonstrates the government’s commitment to bolstering the agricultural industry, which plays a crucial role in the province’s economy and livelihoods of the rural population.

    Furthermore, the interim setup has pledged to complete 50 per cent of ongoing development projects within the first four months of the new fiscal year. This ambitious target showcases the government’s determination to prioritise infrastructure development and provide better facilities for the citizens.

    The cabinet’s focus on critical sectors also extends to education and healthcare. An increase of up to 31 per cent in the budget allocation for education and health has been approved for the initial four months of the fiscal year. This decision reflects the government’s commitment to improving access to quality education and healthcare services across Punjab.

    The cabinet’s proactive approach toward promoting technological advancements is evident through the approval to establish an information technology park within the Lahore Knowledge Park. This venture aims to create a hub for technology-driven innovation and attract investment to the region.

    In a noteworthy move, the cabinet also approved the establishment of an endowment fund worth Rs1 billion for journalists. This step recognises the vital role played by journalists in society and aims to support and encourage their professional growth.

    Chief Minister Mohsin Naqvi emphasised that the Punjab budget does not impose any new taxes on the people, providing further relief to the general public. He commended the chief secretary, Planning and Development Board chairman, Punjab finance secretary, and their teams for their diligent efforts in presenting a people-friendly budget.

    The cabinet meeting was attended by provincial ministers, advisors, and secretaries of relevant departments, signaling a collaborative approach to decision-making and ensuring the inclusivity of various stakeholders.

    With the interim Punjab cabinet’s approval of this budget, the province is poised to embark on a path of economic growth, development, and improved quality of life for its citizens.

  • Governor Sindh Visits K-Electric’s BQPS-III Power Plant, Reviews Swift Progress of Unit One

    Governor Sindh Visits K-Electric’s BQPS-III Power Plant, Reviews Swift Progress of Unit One

    Governor Sindh Imran Ismail visited K-Electric’s Bin Qasim Power Station-III (BQPS-III) project to review the progress on the latest addition to Karachi’s power network. The visit followed a meeting between KE’s Senior Leadership and the Governor Sindh where KE presented an update on the company’s preparedness for Ramadan and the 2021 summer season.

    BQPS-III is a USD 650 million project which will be adding 900 MW of generation capacity to KE’s existing network. This mega-project is progressing on the back of close collaboration between leading engineering firms who are partnering with KE to achieve a shared vision of empowering Karachi. Work is progressing swiftly, and the first unit of 450 MW is over 70% complete and is expected to come online in the next 5 to 6 weeks. The high-efficiency plant will be utilizing RLNG as its primary fuel source. Not only is this expected to reduce the carbon footprint, the inclusion of RLNG will further diversify the company’s fuel mix and bring savings by lowering import costs for the government by eliminating the need for furnace oil.

    KE officials were joined by senior representatives from Siemens, SSGC, and PLL, who apprised the Governor of the progress on the construction of a spur pipeline which will be supplying 150mmcfd of gas to BQPS-III, which is keeping pace with the plant’s progress and is also over 90% complete. The underlying Gas Supply Agreement between SSGC and PLL is also in advanced stages and is expected to be finalized as soon as necessary approvals are received from the Government, ensuring an adequate supply of fuel to energize the plant.

    Commenting on his visit, Governor Imran Ismail said, “The sincerity of the Government of Pakistan is evident in the support they have extended to KE, and I am pleased to see that Sehr and Iftar times during this Ramadan are exempt from load-shed as a result. I’m monitoring the situation daily to ensure that the best possible facilitation is given to the citizens of Karachi. Seeing the scale and progress of work and the commitment with which KE is working, I feel positive for the future of the city. KE’s management and representatives from Siemens, SSGC, and PLL have assured me that they are working to complete the project on time, and I have instructed them to resolve any bottlenecks that may affect the energization of the plant which is expected to be inaugurated by the Honorable Prime Minister. In this process, I have also assured them of my fullest support from my office and from the Government of Pakistan.”

    CEO K-Electric, Moonis Alvi said, “We’re grateful to the Governor Imran Ismail sahab and our partners at Siemens, SSGC, and PLL for visiting BQPS-III today. The timely execution of this project is critical to meet Karachi’s future demand, and we are all working around the clock to ensure the same. I also want to commend the Government of Pakistan for their support to KE and Karachi, especially during Ramadan which has enabled us to fully support Karachi’s power requirements. We look forward to this support in the summer months as well. Without their assistance and collaboration, it would not be possible for us to realize this dream for Karachi.”

    Speaking with media during his visit to under construction BQPS-III site, Mr. Imran Maniar, Managing Director Sui Southern Gas Company Limited (SSGCL) said, “It is very important for us to work together with KE which is also our largest customer. Timely energization of this plant is necessary and we are working with KE to ensure their RLNG requirement is met. SSGC is pleased to be playing its role in this process.”